FMO debuts in Uzbek som, SSAs go ultra-long in euros

By Frank Jackman

06 Sep 2019

The Netherlands Development Finance Company (FMO), made its Uzbekistani som debut this week to take advantage of funds flowing into EM currencies thanks to low rates in dollars. Elsewhere, euro investors are looking at the ultra-long end of the SSA market.

The Netherlands Development Finance Company placed a Uzs188bn ($20m) 9.9% September 2022 bond on Monday, its first in the currency according to one MTN banker. The note pays and settles in dollars. ING priced the deal at par.